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PART TWO
OAPEC Activities in 2012
During the year, 200 vessels were repaired, against 210 vessels in
2010. Average revenue per vessel rose to about US$843,000, compared to
US$710,000 for the previous year.
The company has successfully built a good image in the region, and
was crowned with “Yard of the Year 2011” among the awards of “Lloyd’s
List Middle East & Indian Sub-continent”. The next step, however, is to
enhance this reputation in all aspects of international navigation, and to
prove the company’s deserved image and ability to take the challenges
ahead.
Hence, ASRY will remain keenly desirous to continue its expansionary
business plans, realizing outstanding performance by diversifying income
through offshore repairs. Despite the challenges prevailing in the market, the
company keeps attaining progressive growth. Had it not been for the constant
support by the stakeholder countries to boost its management and business,
the company would not have been able to achieve such progress.
It should be noted that relentless efforts were exerted in the areas of
marketing and promotion for the company’s services upon entry of oil
tankers and other vessels, as well as drilling platforms, toASRY for repairs.
Those efforts were not limited to ASRY; yet, they extended to include the
global agents network, with whom ASRY makes concerted efforts. Had it
not been for the extensive efforts made by our agents, much repair works
awarded to ASRY would have been referred to other yards.
2. Financial Results 2011
Despite the difficult economic conditions, and the sharp competition
at the regional and global levels, the company posted a good net profit of
US$3,821,232.
3. Training
In 2011 ASRY continued its training and Arabization plans aimed at
developing the Arab staff. In line with the plan, more Arab trainee staff
were either employed or promoted, and staff performance and skills were
